1531 ET - U.S. natural gas futures settle higher, rising for a second week in a row thanks to hot summer weather driving electricity-sector use to meet air conditioning demand. Gains have been modest in up-and-down trade, as strong production and an inventory surplus limit rally attempts and the market looks increasingly beyond August to cooler shoulder-season weather. "Currently most traders feel inventories remain ample entering the fall shoulder season, and the latest buying looks to be mostly short-covering," Dennis Kissler of BOK Financial says in a note. Nymex natural gas settles at $2.773/mmBtu, up 1.5% on the week.
At the request of the copyright holder, you need to log in to view this content
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.